corrections corporation of america class action lawsuit

The lawsuit was filed August 23, 2016, on behalf of the class of stock holders of CoreCivic, which trades on the New York Stock Exchange under the ticker symbol CXW. The class consisted of persons who held CCA stock between February 27, 2012 and August 17, 2016. Did you purchase shares of Corrections Corporation of America (2016) prior to the Class Period? you might be an appropriate lead plaintiff candidate, Kessler Topaz will contact you to discuss TN, Case No. The precipitous decline in the market value caused the class to suffer significant losses and damages., CoreCivic President and CEO Damon Hininger said the company was glad to put the litigation behind itself. (M.D. Bell, Esq.280 King of Prussia RoadRadnor, PA 19087(888) 299 - 7706(610) 667 - 7706info@ktmc.com, To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/shareholder-class-action-filed-against-corrections-corporation-of-america--cxw-300317822.html, SOURCE Kessler Topaz Meltzer & Check, LLP. Get class action lawsuit news sent to your inbox - sign up for ClassAction.org's free weekly newsletter here. Following this news, shares of the Company's stock declined $9.65 per share, or over 35%, to close on August 18, 2016 at $17.57 per share, on unusually heavy trading volume. A securities class action lawsuit was recently filed against the private prison giant Corrections Corporation of America, alleging that the company made false or misleading statements, and failed to disclose certain information that would have otherwise been important for investors to know. Bell, Esq.) Tenn.), Case No. In the lawsuit, plaintiffs alleged that the unconscionable arrangements violated their constitutional rights to speech and association, their rights to foster and maintain family relations under the First and Fourteenth Amendments; their rights to due process and equal protection of law under the Fifth and Fourteenth Amendments; and their right to unimpaired freedom of contract under Article 1, Section 10. The plaintiffs allege the defendant threatened to punish detainees who refused to engage in tasks that the case claims included cleaning the entire facility, preparing meals for law enforcement events, clerical work, providing barber services, and preparing clothing for new inmates. On May 31, 2019, Defendants and Plaintiff participated in another in-person mediation session with Mr. Lindstrom. Expert depositions are scheduled to conclude on October 30, 2020. District Judge Gladys Kessler acknowledged the civil rights concerns, but referred the case to the Federal Communications Commission, under the doctrine of primary jurisdiction. The plaintiffs also alleged that the agreements violated the Sherman Anti-Trust Act, 15 U.S.C. | February 7, 2023 Advanced search Log in Forgot password ? As detailed in the complaint, on August 18, 2016, Deputy Attorney General Sally Yates announced the DOJ's decision to end its use of private prisons, including those operated by CCA, after officials concluded that the facilities are both less safe and less effective at providing correctional services than those run by the federal government. The Settlement Amount and any interest it earns constitute the Settlement Fund. The Settlement Fund, after deduction of Court-approved attorneys fees and expenses, Notice and Administration Expenses, Taxes, and any other fees or expenses approved by the Court, is the Net Settlement Fund. If the Settlement is approved by the Court, the Net Settlement Fund will be distributed to eligible Authorized Claimantsi.e., Members of the Class who timely submit valid Proofs of Claim and Releasein accordance with the proposed Plan of Allocation. That included the likely discontinuation of its reliance upon private companies to run its facilities, as part of an effort to enact reforms that would ensure more proportional sentences and effective use of federal resources.. Seamus Kaskela, Esq.Adrienne O. A 2012 report noted that 40-43% of CCAs revenue was derived from contracts with the federal government through operation of prisons and detention centers. Buckfire Law Wins Jail Death Trial Against Corizon Health's Employees Dec, 16 2022 Private prison company execs accused of downplaying detainee lawsuits Aug 26, 2022 The lawsuit captioned Grae v. Corrections Corporation of America, et al., Case No. Kessler Topaz Meltzer & Check is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. Read more here: Camp Lejeune Lawsuit Claims. New York, NY 10012, Main: 212-614-6464 Shareholders who have incurred losses in Corrections Corporation of America securities are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774.. Additional sources: usnews.com, tennessean.com. The lawsuit captioned Grae v. Corrections Corporation of America, et al., Case No. When typing in this field, a list of search results will appear and be automatically updated as you type. By signing exclusive agreements that typically result in excessively high rates and surcharges on collect-only calling by prisoners, their constitutional rights to speech and association, their rights to foster and maintain family relations under the First and Fourteenth Amendments, their rights to due process and equal protection of law under the Fifth and Fourteenth Amendments, and their right to unimpaired freedom of contract under Article 1, Section 10, are all being violated. Correction Corporation of Americas stock price hit a high in June, rising north of $35 per share, then declining slowly but steadily over the remainder of the summer, according to data from Google Finance. This is the only option that. In order to be appointed as a lead plaintiff, the Court must determine that the class member?s claim is typical of the claims of other class members, and that the class member will adequately represent the class in the action. PDF Notice of Proposed Settlement of Class Action America, Inc. ("Cca" or The law firm of Robbins Geller Rudman & Dowd LLP represents you and other Class Members. Title. [T]ime has shown the [private prisons] compare poorly to our own Bureau facilities. New to ClassAction.org? On August 22, 2001 District Judge Gladys Kessler acknowledged the civil rights concerns, but referred the case to the Federal Communications Commission, under the doctrine of primary jurisdiction. 3:16-cv-02267, was filed in the District Court. Goldberg Law PC Files Class Action Lawsuit against Corrections In reaching this conclusion, U.S. District Court Judge Aleta A. Trauger quoted emails in which CoreCivic executives expressed concerns about the pending report, then surprise and pleasure that it did not dwell on some of the more serious deficiencies at private prisons such as continuous understaffing and was directed more at problems with the BOPs oversight role. Check, Esq.D. Notice of Proposed Settlement of Class Action. Finally, this claim also takes into account the recent decision by the U.S. Department of Justice not to renew or extend its contracts with private corrections companies, which sent Corrections Corporations stock plummeting in mid-August. By Aug. 1, it was down to a little more than $32.50, then the downturn started picking up more speed. Copyright 2023 Surperformance. Ms. Wright was present for the announcement along with other family members of prisoners, advocates and other allies. This settlement will help ensure they dont lose money betting on the business of caging people for profit. -, Transcript : CoreCivic, Inc., Q4 2022 Earnings Call, Feb 09, 2023, CoreCivic's Q4 Adjusted Earnings, Revenue Decline. CoreCivic, Inc., formerly Corrections Corporation of America, is the defendant proposed class action filed over alleged human trafficking and labor law violations. the matter and whether to establish an attorney client relationship. PLN printISSN: 10757678 |PLN online ISSN: 2577-8803, Corrections Corporation of America/CoreCivic, PREA: Tackling the Nightmare of Prison Rape, Nebraska Supreme Court Holds Discretionary Function Exception Bars Lawsuit Over Prisons Botched Response to Uprising, Arizona Federal Court Rescinds Approval of Jensen Settlement; Sets Class Action Medical and Control Unit Case Against Arizona DOC for Trial, $50,000 Settlement for Denial of Medical Care at Tribal Jail in Montana, Protective Order Issued in Florida Solitary Confinement Lawsuit, Georgia Enacts Massive Probation Reform Bill. CCA specifically listed the ACA, The Joint Commission, the National Commission on Correctional Healthcare, the Occupational Safety and Health Administration, federal, starts, and local government codes and regulations, established correctional procedures, and company-wide policies and procedures that may exceed those guidelines that it met or exceeded. For additional information please visit https://www.ktmc.com/new-cases/corrections-corporation-of-america#join. On May 26, 2019, the Court certified the Class consisting of all persons who purchased or otherwise acquired Corrections Corporation of America. The mediation was preceded by submission of mediation statements by the Settling Parties. 3:16-cv-02267 Honorable Aleta A. Trauger PROOF OF CLAIM AND RELEASE I. Since then, Correction Corporation has been trading at less than $20 more or less the entire time, and the most recent price available for the stock was just $15.40 per share. By signing this form you are You will still be a Member of the Class. On August 23, 2016, an action captioned , Grae v. Corrections Corporation of America, et al. They will be paid from the Settlement Fund to the extent the Court approves their application for fees and expenses. Each of these contracts is subject to review by federal officials, but experts generally expect that few if any will be renewed. On Aug. 18, U.S. Deputy Attorney General Sally Yates made the announcement that, based on a number of factors, the DOG would put a number of reforms into place to ensure a more effective federal prison system, according to investment news site The Motley Fool. RADNOR, PA / ACCESSWIRE / August 29, 2016 / The law firm of Kessler Topaz Meltzer & Check, LLP alerts Corrections Corporation of America (NYSE: CXW) ("CCA" or the "Company") shareholders that a class action lawsuit has been filed in the Middle District of Tennessee on behalf of purchasers of the Company's securities between February Corrections Corp Of America : Class Action Lawsuit Filed Against As detailed in the complaint, on August 18, 2016, Deputy Attorney General Sally Yates announced the DOJ's decision to end its use of private prisons, including those operated by CCA, after officials concluded that the facilities are both less safe and less effective at providing correctional services than those run by the federal government. The complaint alleges that CCA and certain of its executive officers made a series of false and misleading statements and/or failed to disclose to investors during the Class Period that: (i) CCA's facilities lacked adequate safety and security standards and were less efficient at offering correctional services than the Federal Bureau of Prisons' ("BOP") facilities; (ii) CCA's rehabilitative services for inmates were less effective than those provided by BOP; (iii) consequently, the U.S. Department of Justice ("DOJ") was unlikely to renew and/or extend its contracts with CCA; and (iv) as a result of the foregoing, CCA's public statements were materially false and misleading at all relevant times. On January 10, 2017, the Court appointed Plaintiff Amalgamated Bank, as Trustee for the LongView Collective Investment Fund as the Lead Plaintiff and appointed Lead Counsel. Your rights may be affected by the Settlement if you purchased or otherwise acquired Corrections Corporation of America, Inc. (CCA or the Company) (n/k/a CoreCivic) during the period from February 27, 2012 through and including August 17, 2016 (the Class Period). CORRECTIONS CORPORATION OF AMERICA, et al., Defendants. ) CoreCivic, Inc., formerly known as Corrections Corporation of America, is the defendant in a 36-page proposed class action lawsuit alleging the company operates its detention facilities in violation of state and federal human trafficking and labor laws. 2. Class Action Says Bank of America Unlawfully Withholds Cash Rewards Corrections Corporation of America, a nationwide class action lawsuit, seeking to enjoin, declare illegal, and recoup damages resulting from conspiracies between CCA and various telephone companies, including Evercom, Inc., MCI-Worldcom, Pioneer Telephone Corporation, AT&T, and Global Telecommunications Link, Inc. CCA operates 82 prisons and New cases and investigations, settlement deadlines, and news straight to your inbox. All rights reserved. Prior to this session, the Settling Parties provided to Mr. Lindstrom and exchanged supplemental mediation materials. CoreCivic shareholders granted class action status in fraud lawsuit Community Corrections E-Carceration Remember Or log in with Google Twitter Facebook Apple Sign up This action is still ongoing. PLN managing editor Alex Friedmann, who owns a small amount of CoreCivic stock as an activist investor, mainly for the purpose of filing shareholder resolutions, has filed a separate derivative suit against CoreCivic that was stayed pending developments in the Grae case, which remains pending. Bell, Esq.280 King of Prussia RoadRadnor, PA 19087(888) 299 - 7706(610) 667 - 7706[emailprotected], SOURCE Kessler Topaz Meltzer & Check, LLP, Cision Distribution 888-776-0942